Compliance concerns relegated as cost of business rises
In the aftermath of the Hayne royal commission, compliance was the biggest priority for advisers, as fears over breaching legislation were heightened. But five years later, CoreData’s Andrew Inwood and Dean Thomas tell Professional Planner the tide has turned, with practices becoming more concerned about how to generate profit in a hostile economic environment.
September 25, 2024
ATO releases final determination on deductibility of advice fees
The Australian Taxation Office has established in its final determination regarding the tax deductibility of advice fees that advice fees relating to tax advice can be deductible, if the advice is provided by a qualified tax relevant provider.
September 25, 2024
E&P seeks darkness ahead of parliamentary probe
Dixon Advisory parent company Evans and Partners has further sought to move out of the spotlight, proposing to delist from the ASX due to “a sustained negative impact” the company has suffered. The move comes a week after a Parliamentary probe into the collapse of Dixon was launched, which the FAAA says should question why the regulatory regime places all the responsibility for failure on advisers.
September 24, 2024
Betashares’ Bendigo Super faces APRA heat over past performance
ETF manager Betashares will have its work cut out after the fund it acquired to get a toehold in the super industry, Bendigo Super, was called out for underperformance by the prudential regulator.
September 24, 2024
Tax adviser determination hit with new disallowance threat
Another motion to kill a determination that governs new ethical rules for tax advisers has been lodged, less than a fortnight after the previous attempt failed. Independent Senator David Pocock – whose vote prevented the last attempt – submitted the motion countersigned with Coalition Senator Dean Smith.
September 23, 2024
Staff – and client – training essential for successful change management
Changing one technological system to another requires guidance and hands on training for your team but also your clients. Accepting that it may not be an easy process and acting accordingly will allow the change to be as smooth as possible.
September 23, 2024
Global X names CEO
ETF provider Global X has named Alex Zaika as its CEO, replacing Evan Metcalf who resigned last month.
September 23, 2024
Opposition hammers govt on ‘maladministration’ of CSLR
Ahead of a review into the collapse of Dixon Advisory, the federal opposition has accused the government of “poor implementation and maladministration” over Dixon-related cost blowouts to the Compensation Scheme of Last Resort.
September 20, 2024
Super sector’s dirty little secret of pension minimums
A little-known administrative hurdle is prohibiting tens of thousands of poorer Australians from accessing account-based pensions via the country's biggest super funds. Aleks Vickovich writes this seemingly widespread practice is shameful and threatens the grand bargain underlying compulsory super.
September 19, 2024
‘Death by data’: To improve your practice efficiency, sort out your data
Practices can find themselves swamped in client data. By implementing a system to structure and clean up their databases, they can boost efficiency and simplify the processes for their clients.
September 19, 2024
